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the interest of the middle class and the protection of social security, medicare and medicaid for the people who are in such desperate need of those great programs that are the hallmark of our country. we have repeatedly said and our caucus again just confirmed that job creation equals deficit reduction, and we must put the country back to work. we have proposals that are on the floor. we still believe that even with the -- what little time remains and what little time remains when we're actually working, this is still possible. this is still doable. this is not a democrat or republican issue. republicans believe that america needs to go back to work. it's just a matter of having the will to do it, the programs are out there. compromise can be made around the streamlining of regulations to make sure that we are putting people back to work. if chris christy and barack obama can get -- chris cristie and barack obama can get together on that, and i know what's transpired and how the impact of our infrastructure has taken place along the eastern seaboard, it's something we ought to be able to ra
calls for deep cuts, environmental protection, social security, medicare, medicaid. well, corporations and the top 1% get tax cuts of nearly $3 trillion over the next decade. this is not how you protect a democracy. the speaker pro tempore: the gentleman's time has expired. for what purpose does the gentleman from texas seek recognition? mr. poe: i ask unanimous consent to address the house for one minute. the speaker pro tempore: without objection, so ordered. mr. poe: mr. speaker, the -- a president has finally given us his balanced plan to allegedly avoid the fiscal cliff. he wants to raise taxes by $1.6 trillion. he wants another stimulus package of $50 billion. he wants the authority to raise the debt ceiling without asking congress for approval. say it isn't so, mr. speaker. this tax hike will hurt small businesses which provide 67% of the jobs in this country. that may fund the government for a short time. then, what's the plan? stimulus 2.0. because the first stimulus worked so well? that was a disaster as well. we have a $16 trillion deficit, and the president wants to spend m
face great challenges, the economy, immigration, the debt, social security and medicare on these items and more we must find the answers soon if we hope to keep our country on a path to prosperity. and those solutions will only materialize if the members of congress take a chance, work together and care more about results than sound bites or the next election. equally important they must, must be willing to take a walk a few hundred feet to the other side of the rotunda. the house and the senate are two sides of the same coin and yet they have never seemed further apart. my proudest moments as a member of congress have all been the result of collaborations. my work to keep homeless kids in school, bar genetic discrimination or reform the nation's flood insurance program were all signed into law after extensive personal conversations with members of the upper chamber. we have great leaders here in the house, but they alone cannot maintain communications between the two greatest deliberative bodies in the world. it's up to all of us, and will be to all of you. so mr. speaker, my advice i
the combination of expectation of the 2001 tax reduction for the top 2% and the extension of the medicare act and capital income. under the president's preferred tax policy, the top rate would go from 35% to 49.9% for ordinary income -- and for ordinary income from 15% to 25%. the long-term consequences of president obama's tax policies would have a profound and negative affect. capital stock would be dollar -- would fall. fewer jobs and lower wages resulting in higher taxes would harm the middle class. data reveals three important facts of high income earners. the taxes on the wealthy raise as much faster than on everyone else during economic booms, but they also fall much faster during economic bust. people bit more income when tax rates are low and not when they are -- report more income when tax rates are low and not when they are high. there are better ways to increase federal revenues than hiking tax rates. congress could enact a program of tax reform that would lower rates and eliminate interest reductions. the president could open up more federal lands and offshore areas for energy ex
in medicare but health care but we pay more, more than most countries, and we get less. here's an example of a reform. right now in medicare, when we buy prescription drugs, we buy wholesale but we pay retail and the law requires us to pay retail. whereas in the v.a., in medicaid, we do price discounts when we're purchasing. if we did that in medicare that would save us $160 billion a year. so what i'd like to see is us save money on health care. we need to do that. but it's got to be through system reform. host: can you save enough money through system reform without looking at benefits? guest: you know, you got to start there, because you really don't want to be saying to somebody, we're going to have a system where if we have a broken wrist we'll cover it but if it's a broken forearm we won't. and if we go through legit mate ways to save money, then you get into benefits and ask, how do we pay for it, and we'd either have to adjust that, the payments, or we have to make decisions how to deal with the benefits. but you got to start with where you can actually save money. you know, there
there is a big challenge. there are problems with medicare and social security. they are facing big deficit situations. host: what motivates the creation of deductions? what about the other incentives? mortgage deduction it to encourage people to buy a home. guest: some of the deductions have been around forever, since the invention of the income tax. there has always been a deduction for interest that you paid. the government didn't think it could distinguish between mortgage interest and other kinds of interest. less interest is deductible now. some of the things are left over from the early days of the tax code. there is no magic about allowing people to deduct mortgage interest and not the interest they pay on their credit cards. some of these things are hard to explain. host: does it incentivize home buying? guest: it does provide some if incentive for buying a home and is a large tax break and gives them an enormous benefits. it mostly provides an incentive for buying a bigger house. it seems to incentivize mcmansions. there is a fair question of whether that is something we should be
revenues. it did contain four specifics. four. cut medicare specific number one. $600 billion. cut medicaid, pays for nursing homes for seniors, of course. priority number two. three, cut the adequate cola for seniors on social security. even though 40% of seniors depend principally or totally upon social security and the cola already underestimated inflation particularly for medicare, essentials they need. cut that. not a driver of the deficit but, hey, cut that. one more specific. preserve the bush-era tax rates for income over $250,000. it's not a tax increase for everybody who earns over $250,000. it's only the income over $250,000 that would get additional taxes if the bush-era rates went away and the president's proposal was passed. but, no, they want to preserve -- totally preserve tax cuts for income over $250,000. they want to preserve the reduced capital gains rate and dividends rate which principally who ben pets, who else, millionaires and billionaires. now -- benefits, who else, millionaires and billionaires. they did have the jay wellington wimpy plan. you remember him? popeye
and medicare specifically and there was talk about that and we need new revenue. we spent the last year trying to get through to new revenue and borrowed ideas from both sides but we put together a group of people who are quite experienced, bill, larry, les and tony and we really tried to work through how would you raise enough revenue to hit the simpson-boles target. that is $1.8 trillion dollars that is higher than the president and the republican offer. we did that by removing the alternative minimum tax, repealing other provisions that add complexity and eliminating unjustified tax loopholes but we did it by converting the current system of deductions, which favor high income taxpayers through a system of tax credits which equalizes the benefit that middle income as well as high income taxpayers get. we restore the top rate of 39.6%. there is a lot of debate of whether you can lower the rate. our judgment was you needed that rate in order to have a progression of income and it is incumbent on other people to come forward to show how to get the income necessary to deal with our fiscal probl
bit off of medicare reimbursement. we have to think very seriously about changing the way the process works. on the other side, noting that they did a moment ago, medicare, fundamental reform is essential. on the other side, let's pretend revenue increases because for increasing growth. we need real increases in revenues measured on a static basis and i think got to recognize that. if a possible if we can't do the whole job it is a scorecard of zeros. we still could have pay-as-you-go debit on a scorecard or restart, which would tell us in years further down the road we have to do to revenues or entitlements to save money that may be awake coupled with inadequate sequester to make the process work going forward. the last point i would make, in fact my old boss, leon panetta, who said with great frequency, our nation responds to problems either through the leadership or in crisis. .. >> michael? >> thank you. i am sure that had a lower number than lockout. if i didn't, i certainly should have. maybe the administration gave congressional staff lower numbers. but it was not right if that
and medicare. increasing taxes means less growth and fewer jobs, and that's not balanced. three years ago i made a pledge to oppose tax increases. i made that pledge to the citizens i serve and to no one else, and i made it because tax increases will hurt them. when jen, the owner of la petite cuisine in new york says the best thing i can do is give her a break from high taxes, i believe her. i ran for congress to help jen and all the small business people like her who are the engines of job creation. i ran for congress to help all the people who need employers like jen to hire them. these good people deserve better than temporary fixes. they deserve a plan that solves our economic problems for the long term. they deserve a plan that goes beyond politics and shows a commitment to putting the federal government on a budget and on track to eliminate our crushing debt, that respects our citizens' rights to enjoy the fruits of their labor and to spend and save and invest as they see fit, which is the best way to grow the economy and add jobs and that allows each of them, regardless of their sta
territory. to be truthful, this assumes that all the federal -- all the social security revenues, medicare revenues are getting spent on other projects rather than going in the trust fund and being preserved. we didn't really have a surplus. we were spending social security and medicare revenues to create a surplus. but we did have some better years then. then we go into the bush years. this is important. 9/11 changed the way this country deals with national security. a lot of programs going on much to my surprise, mr. speaker, you remember, we create add brand new federal department with the republican house, republican senate, and republican president. we created a brand new entitlement program, medicare part d with a republican house and republican president. and we ran during the bush years, and represented right here, we ran at that time what was the largest deficit in american history. the largest deficit in american history were run during the bush administration with republican house, republican president. and we began to get a hold of that. that was after 2001, september 11 again,
that the government is so corrupt and all in different departments, there's so much fraud going on, like the medicare program, the doctors and the insurance companies have brought the department so bad. they need some cleanup crew, cleanup people to check all the fraud that's going on. i watched american greed on tv and some people ought to watch. that i just watched it the other night, about the skin doctor that was cutting elderly people, special people that's on medicare, and he was -- so many doctors, when that first was passed when president johnson signed the bill into law, it was miss managed once the doctors didn't want it at first. they voted against it and the republican senators, i remember clearly. i -- i'm 85 years old. and i've paid taxes since i've been 15 years old. i've paid into the -- host: social security, medicare. caller: social security, i've paid into that all through my life. host: we appreciate you're watching, we appreciate you're calling. in any comment first of all for that caller? it's a little outside your baileywick. guest: this is a time when people in congress are ta
Search Results 0 to 11 of about 12